Fleet management system is an integrated system deployed to abridge the creation of real-time maintenance plans. It can easily integrate technical or operational, commercial requirements, and limitations. Railway fleet management system allows information to be transferred between a vehicle fleet and the central authority, enabling them to keep a track of vehicle location.

Railway fleet management system also provides a wide range of critical alerts, anti-theft alerts, and driver behavior and safety alerts for railway departments to take necessary actions in time. With admittance to real-time fleet data & fleet status, fleet managers can easily perform their operations more efficiently and also to increase driver efficiency. Additionally, the use of railway fleet management system enhances safety, reduces costs, and ensures compliance.

Moreover, the adoption of wireless technology in railway fleet management system is expected to be high during the forecast period. This is because of its exponential benefits such as quick access & response, cost reduction, and wide-area coverage that ultimately help the vendors to rise their productivity, efficiency, and return on investments.

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Safety is one of the most important issues for fleet management companies. Safety of the vehicle and the driver are perennial concerns in the industry. Lack of compliance, particularly by drivers regarding safety policies, and inadequate safety training make enforcing safety measures difficult.

Novel technological adoption also plays an important role in leveraging fleet operations and lowering accident rates. Companies are increasingly adopting vehicle safety advancements such as vehicle-to-vehicle communication. In addition to this, other measures such as driver education programs, industry scorecards, and incentive programs can also encourage drivers to enhance their performance. Thus, prevalence of these solutions is influencing the adoption of railway fleet management systems to reduce safety concerns in railway.

Adoption of railway fleet management systems in under-developed economies is quite low compared to that in developed economies. Lack of proper infrastructure and financial difficulties are key factors restraining the adoption of railway fleet management systems in these economies. On the other hand, increase in government initiatives related to safety is expected to drive the adoption of railway fleet management systems in the near future.

North America to Hold Major Share of Global Railway Fleet Management System Market

In terms of region, the global railway fleet management system market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa

North America is anticipated to account for major share of the global railway fleet management system market during the forecast period, owing to the increase in government mandates regarding fleet safety, specifically in the U.S. and Canada. Europe is estimated to be the second-largest market for railway fleet management system from 2019 to 2027, led by the rise in operational efficiency, mobility, and advanced data analytics in railway fleet management systems in the region.

Asia Pacific is projected to be a rapidly expanding region of the global railway fleet management system market during the forecast period, owing to the favorable political environment, government initiatives regarding penetration of connected devices, and the overall growth of the rail industry is expected to upsurge the adoption of railway fleet management system in the region.

Global Railway Fleet Management System Market – Competition Landscape

In May 2019, Knorr-Bremse AG, a key provider of braking systems and other rail and commercial vehicle subsystems, acquired nearly 32% of share of Railnova SA to enhance railway digital transformation.

Key Players Operating in Global Market

Railnova SA

GMV Innovating Solutions

VTG Aktiengesellschaft

KLS Logistics Services, Inc.

Ricardo

Rail Services Inc.

The Greenbrier Companies

Railcar Tracking Co.

Global Railway Fleet Management System Market: Research Scope

Global Railway Fleet Management System Market, by Component

Hardware

Software

On-premise

Cloud-based

Services

Professional Services

Manages Services

Global Railway Fleet Management System Market, by Solution

Operations Management

Vehicle Maintenance

Monitoring and Diagnostics

Performance Management

Fleet Analytics and Reporting

Global Railway Fleet Management System Market, by End-user

Private

Public

Global Railway Fleet Management System Market, by Region

North America

U.S.

Canada

Mexico

Rest of North America

Europe

Germany

U.K.

France

Russia

Italy

Spain

Nordics

Rest of Europe

Asia Pacific

China

India

Japan

Australia

Singapore

Malaysia

South Korea

Rest of Asia Pacific

Middle East & Africa

UAE

Saudi Arabia

South Africa

Rest of Middle East & Africa

South America

Brazil

Rest of South America

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